Business Entity Types

To get the most out of your small business, choose the right structure. Selecting the right type of company or corporation for your new business helps maximize your chances of financial and operational success.

Common types of business structures and corporations include C corporations, limited liability companies (LLC), partnerships, S corporations, and sole proprietorships. Learn more about each type of business or corporation:

Limited Liability Companies (LLCs)

Independent legal structures separate from their owners.

Help separate your personal assets from your business debts.

Taxed similarly to a sole proprietorship (if one owner) or a partnership (if multiple owners).

Sole Proprietorships

Owner remains personally liable for lawsuits filed against the business.

No state filing required to form a sole proprietorship.

Easy to form and operate.

Owner reports business profit and loss on their personal tax return.

Review our Business Comparison Chart for more details. Regardless of business structure you choose, incorporate.com can help you incorporate or form an LLC online or by phone for less than the cost of using an attorney.